Obbligazioni societarie GENERAL ELECTRIC -operativo emissioni (1 Viewer)

mb1

Nuovo forumer
Ge xs0319639745

Buon giorno a tutti, chi mi puo' dare una indicazione sul prezzo e la scheda informativa? :bow::bow::bow:
 

Imark

Forumer storico
Buon giorno a tutti, chi mi puo' dare una indicazione sul prezzo e la scheda informativa? :bow::bow::bow:

Sull'ICMA vedo un 58 del 29 maggio scorso, sul London Stock Exchange un 28 del 10 marzo scorso... e poiché il 58 è segnato come un +108% sul prezzo precedente, ne deduco che non doveva essere lontano dal prezzo del LSE...

Sulla scheda informativa, a parte il fatto che trattasi di un subordinato, non so dirti molto: proverei fra le investor relations di qualche sito di GE o meglio ancora di GECC
 

negusneg

New Member
Buone notizie ;)

GE Capital ha chiesto di uscire dal programma di garanzia sui commercial papers della FDIC (Temproray Liquidity Guarantee Program), sostenendo che il costo supplementare di emissioni non garantite ormai è inferiore ai 60 bps rtichiesti dalla garanzia.



GE Capital Wins Approval of Plan to Exit FDIC Program (Update3)



By Rachel Layne



July 22 (Bloomberg) -- General Electric Co.’s finance unit won approval for a plan to leave the Federal Deposit Insurance Corp.’s debt guarantee program, saying it has the financial strength to raise money without government help.
GE Capital will no longer issue government-guaranteed commercial paper with maturities up to 270 days, the Fairfield, Connecticut-based company said in a statement today. GE Capital will have about $14 billion in long-term debt capacity remaining under the Temporary Liquidity Guarantee Program.
“From a bondholder’s perspective, the fact that the U.S. government stood squarely behind the company and gave it such a large amount of financial assistance is a real positive,” said Gary Jenkins, a credit strategist at Evolution Securities in London. “While there may not be an explicit guarantee on new debt, bondholders will assume that there is an implicit one until such time GE is totally free of any government-guaranteed liabilities.”
GE Chief Executive Officer Jeffrey Immelt is shrinking the finance arm to less than 30 percent of the parent company’s total profit. The company has refinanced all $45 billion of the debt it plans to issue this year and has already completed about 45 percent of the amount it plans to do in 2010.
“Today’s plan to exit from the TLGP affirms the strength of GE Capital’s funding and liquidity position,” GE Treasurer Kathryn Cassidy said in the statement. “This move is a positive step in returning the broader capital markets to normal functioning and is in line with GE Capital’s 2009 and 2010 debt issuance and funding cost plans.”

GE Capital Concerns

Before today, the parent company had lost about 59 percent of its market value in a year, punished by investors concerned that GE Capital may harbor potential losses. GE rose 3 cents to $11.50 at 10:36 a.m. in New York Stock Exchange composite trading.
GE said July 17 that profit at the finance arm declined 80 percent in the second quarter as the first global recession since World War II slashed consumer spending and real estate markets collapsed. The company has reduced its commercial paper balances to $50 billion from $74 billion at the beginning of the year, and about $100 billion in 2008.
The FDIC considered GE Capital’s financial condition, capital, management and the risk to the agency, today’s statement said. GE submitted the application earlier this month and couldn’t be done until after June 30, spokeswoman Anne Eisele said.
GE is required to apply to exit the program under the rules established by the FDIC when it was set up last year, she said. The program expires Oct. 31, and issuers required to submit an application had to apply by June 30.

Request to Exit

The exit plan was at the request of GE Capital, the company said in its statement. The company has issued about $12 billion in long-term debt outside the program, including about $3 billion this week. The company is holding an investor meeting on July 28 to detail GE Capital’s performance, ratios and metrics.
Of the $126 billion capacity approved under the TLGP last year, GE has issued about $51 billion of insured long-term debt as of yesterday and has another $17 billion in commercial paper outstanding as of July 21, the company said. Unlike banks, which were automatically enrolled in the program, GE had to apply for the FDIC debt insurance.

‘Even Playing Field’

The insurance put the company on an “even playing field,” after being at a disadvantage when bank deposits and money market funds were guaranteed and asset-backed commercial paper was accepted by the Federal Reserve as collateral, GE Chief Financial Officer Keith Sherin said in a Nov. 13 interview.
The company said yesterday on its GEReports.com Web site that it had paid $1.3 billion in fees to use the program so far. Exiting the program improves GE Capital’s cost of funds because the 60-basis point fee on guaranteed commercial paper with maturities of 180 days or less no longer applies, Eisele said. That more than offsets higher rates offered for non-guaranteed commercial paper, she said.
GE Capital’s $1.25 billion of 4.875 percent notes due in 2015 fell 0.7 cent to 98.4 cents on the dollar to yield 5.2 percent at 8:02 a.m. in New York, according to Trace, the bond- price reporting system of the Financial Industry Regulatory Authority. The securities have returned 4.8 percent this year, including reinvested interest, compared with 12 percent for all corporate bonds, according to Trace and Merrill Lynch & Co.’s U.S. Corporate Master index.
To contact the reporter on this story: Rachel Layne in Boston at [email protected].
Last Updated: July 22, 2009 10:40 EDT
 

malvi88

Forumer attivo
Salve, e' la prima volta che scrivo pur avendovi da lungo letto e trattenuto una gran quantita' di conoscenze e buoni consigli. Vorrei richiedere informazioni di due obbligazioni ge cap. Xs0319639232 e della xs0267166246, entrambe con lunghissima scadenza, e taglio minimo da 50.000, in particolare riguardo il tipo di subordinazione e quant'altro necessario a comprendere le caratteristiche del titolo. Grazie
 

negusneg

New Member
Salve, e' la prima volta che scrivo pur avendovi da lungo letto e trattenuto una gran quantita' di conoscenze e buoni consigli. Vorrei richiedere informazioni di due obbligazioni ge cap. Xs0319639232 e della xs0267166246, entrambe con lunghissima scadenza, e taglio minimo da 50.000, in particolare riguardo il tipo di subordinazione e quant'altro necessario a comprendere le caratteristiche del titolo. Grazie

Ciao malvi88 :benvenuto:

sono due obbligazioni interessanti, non le ho inserite nella lista delle perpetual e matusalem bonds solo perchè non sono mai riuscito a trovare le offering circular e quindi so solo quello che si trova sui siti tedeschi.

Il taglio minimo è di 50.000 €, con aggiunta di 1.000 o multipli, la prima rende il 5,50% fino al 2017 poi, se non viene esercitata la call, la cedola diventa indicizzata all'euribor 3m + 2%, mentre la seconda ha una cedola del 4,625% fino al 2016 poi, se non viene richiamata, diventa euribor 3m + 1,60%.

Forse varrebbe la pena di scrivere all'investor relations per chiedere la offering circular, almeno per capire il grado di subordinazione e le varie clausole sul pagamento delle cedole. Se ho tempo ci provo.

http://www.boerse-go.de/Anleihe/General-Electric-Capital-EO-FLR-Debts-200707-67-REG-S

http://www.boerse-go.de/Anleihe/General-Electric-Capital-EO-FLR-Notes-200616-66-REG-S
 

malvi88

Forumer attivo
ciao malvi88 :benvenuto:

Sono due obbligazioni interessanti, non le ho inserite nella lista delle perpetual e matusalem bonds solo perchè non sono mai riuscito a trovare le offering circular e quindi so solo quello che si trova sui siti tedeschi.

Il taglio minimo è di 50.000 €, con aggiunta di 1.000 o multipli, la prima rende il 5,50% fino al 2017 poi, se non viene esercitata la call, la cedola diventa indicizzata all'euribor 3m + 2%, mentre la seconda ha una cedola del 4,625% fino al 2016 poi, se non viene richiamata, diventa euribor 3m + 1,60%.

Forse varrebbe la pena di scrivere all'investor relations per chiedere la offering circular, almeno per capire il grado di subordinazione e le varie clausole sul pagamento delle cedole. Se ho tempo ci provo.

http://www.boerse-go.de/anleihe/general-electric-capital-eo-flr-debts-200707-67-reg-s

http://www.boerse-go.de/anleihe/general-electric-capital-eo-flr-notes-200616-66-reg-s

grazie mille in anticipo
 

malvi88

Forumer attivo
Il taglio minimo è di 50.000 €, rende il 5,50% fino al 2017 poi, se non viene esercitata la call, la cedola diventa indicizzata all'euribor 3m + 2%.

xs0319639232

https://www.boerse-stuttgart.de/rd/en/anleihen/factsheet?sSymbol=GCPD.STU&lang=en

Ringrazio sentitamente, perchè in 2 giorni non sono riuscito a trovare veramente niente al riguardo.
Cmq da una prima lettura sommaria delle parti specifiche sembra che l'emittente possa soltanto differire il pagamento della cedola ma non escluderlo?
 

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